Business Plan Transparency

We receive at least a couple of draft Business Plans each week, all too often completed with faulty templates that will go unnamed and have been the subject of prior Blogs. The overwhelming majority of Business Plans we receive lack transparency, namely supporting detail to back up statements. One example is stating that “we have invested in the company” without also including how much, both an itemization of cash and of time of the principals and key employees, either as an Appendix or offering said document to interested parties. A second example would be supporting documents or mentioned sources for marketing plans and therefore critical revenue assumptions in Forecasts, including specific examples, either within the Plan or as Appendixes, of sales contracts, potential contracts or other documents that suggest your ability to achieve sales as more than just talking the talk but indeed walking the walk. Confidentiality is no more than an excuse since names can be removed from documents and20still be used as Appendixes with a statement in the plan that clean copies can be provided upon expressed interest in the Business Plan.

SBA, angel investors and venture capital firms may be three extreme examples of options for funding, but they all have a couple of things in common. First, they receive lots of plans for consideration and second, if you make it easy to both understand your business and provide advanced due diligence in the form of transparency, your Business Plan has a great chance to not only get to the top of their pile but also get their approval versus the unfortunate alternative….the trash can.

We provide a free consultation on business plans and can help take your plan to the next level in transparency and detail. For more information, contact me at tim@thebusinessplanconsultants.com.

Building Your Business Team

We are approached by many entrepreneurs and business owners that are a “one man gang” or a “lone wolf” in operating and running a business on their own with little or no support from other managers in their company, let alone employees or consultants. Some succeed, but most fail. Startup and small businesses alike can judiciously engage part-time employees or consultants, sometimes with a combination of salary and commission or, as in the case of business consultants such as our company, a combination of paid fees and “success fees,” something we do often when we believe in a client. This structure fosters a team approach and, as many sports-related sayings suggest, the best team wins.

Ironically, while most business owners understand the need for a team approach, in hiring business plan consultants they often opt instead for a lone wolf. A key question should be asked: can a single individual be knowledgeable about 100’s of types of businesses, great at forecasts and great at market analysis? The answer is a HUGE maybe. Should you base your decision for a critically needed business plan for your success on a maybe or consider our approach that will have no less than three professionals with varied backgrounds completing your plan based on their talents and experience? All this sounds expensive, yet that is rarely the case based on our prior experience with so many types of businesses and our ability to cut to the chase.

So ask yourself in all business decisions: What’s best, a lone wolf or a team approach? For any questions on ways to build your team, please feel free to contact tim@thebusinessplanconsultants.com.

Eye of the Tiger

Too many entrepreneurs have a great business model that doesn’t succeed for one primary reason: the lack of an aggressive and proactive approach to achieving their goal, namely the “Eye of the Tiger."

There are always excuses like the state of the economy or simply fear of failure, but as the old saying goes, there is no time like the present. I believe this could never be truer as our country begins to rebound from the recession in various segments based on the entrepreneurial spirit demonstrated by the hard work of small business owners.

Developing a business plan is far more than reducing ideas and concepts to paper. It also requires creative thinking within a team approach that allows missing pieces to be addressed, thereby lessening the risks and building on the positives. Starting with a free consultation to assess and address issues proactively through completion of a business plan in a give and take process until it is final and often assisting in the funding process thereafter, we are there to add to your team.

Feel free to call (732)233-4625 or E-mail at tim@thebusinessplanconsultants.com to discuss the goals for your business.

Stimulus and SBA Program

Section 502 of the Recovery Act (stimulus package) authorizes the SBA to guarantee up to 90% of a 7(a) loan, with the exception of the SBA Express Program that remains a 50% guarantee. Moreover, as part of the stimulus package all SBA loan application fees have been waived. These changes are projected to apply to $8.7 billion of 7(a) loans and $3.6 billion of Section 504 loans (SBA).

We strongly recommend all clients consider SBA as an option as small to mid-sized banks across the country are slow but surely increasing participation in the program. We structure our business plans to suit the SBA and private investors. Plus, with minor tweaking, they can be utilized for grant applications and other purposes. Custom plans (versus templates and software) allow the flexibility for clients’ success with the SBA, private investors and more.

Ask for a free consult at tim@thebusinessplanconsultants.com.

Stimulus Monies Available!

Within the last few weeks, various components of the stimulus package have seen funding released from the federal government to states and cities throughout the nation. Solar business owners and other renewable energy businesses are happy to see the tax credits, grants and other programs available in the stimulus package. Much of the $5B in weatherization programs is now or soon will be available as are non-related grant monies and loan guarantees.

We have only begun to see the ripple affect of the availability of these monies for all businesses. While the credit crunch remains with major financial institutions, many small to mid-sized regional banks are back in business lending to small business owners through SBA and other initiatives. Several of our clients have utilized our business plans to obtain SBA funding recently, an option we encourage all business owners to consider.

Contact tim@thebusinessplanconsultants.com for a free consultation on your business plan and how private investment capital or SBA loans may be available for expansion or startup.

SBA Loans and Private Equity Are Available

While some banks are lessoning participation, SBA loans have remained available during the economic downturn throughout the USA. SBA Express Loans are available for businesses seeking up to $350,000 in capital and, depending on factors such as credit rating and initial capital outlay of the principals, is a viable option for startups, let alone existing businesses.

Private equity, whether institutional, VC, a Private Placement Memorandum or angel investors, remains an option for startups and expanding businesses alike. It is a competitive environment and investors view many plans. Therefore, it is critically important that your business plan not fall into one of the many traps seen in the majority of plans we receive from clients and so called pros http://www.thebusinessplanconsultants.net/toptenbusinessplantraps.html, such as using flawed templates/software (being found at or near the top of Google search not an indicator of success expect for SEO knowledge!) or not having a great Executive Summary to get you in the door.

We can help with finding sources from the SBA http://thebusinessplanconsultants.net/sbafunding.html or equity capital http://www.thebusinessplanconsultants.net/equitycapital.html.

Free consultation is available for the asking at tim@thebusinessplanconsultants.com.

Green Business Planning Fits All Businesses

Our company completes business plans and provides services to companies that focus on green endeavors from renewable energy to products or services. The momentum in sustainable interest of consumers has not been dimmed by the recession, as green products and services sales remain strong or are increasing even when sales of other products in certain other market segments stall. You can't watch TV without seeing a comment about a Fortune 500 company doing its part to help the environment or going green, an effort being made by businesses on all levels to meet consumer demands for sustainability.

All businesses can become a green(er) company, not only benefiting society and the planet but also helping the company grow and accomplish other goals as consumers and business owners alike embrace these important philosophies and actions. Feel free to E-mail to ask how we can help your company in this regard at tim@thebusinessplanconsultants.net